Tag: real estate taxes
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Looking for Midterm Boosts, Trump Floats Capital Gains Tax Cuts. Should Deed Holders Tune In?
Trump officials are floating tax-break ideas in the lead-up to the midterm elections. One recently mentioned proposal: bigger capital gains exemptions for deed holders who decide to sell their homes. Under current law, the Internal Revenue Code’s Section 121 shields up to $250K of profits for single filers and $500,000 for married couples filing jointly.…
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The Nest Egg Protection Act and Other Capital Gains Tax News
This month, U.S. Rep. Nicole Malliotakis, a Republican from New York introduced H.R. 9064, the Nest Egg Protection Act, to the United States Congress. It’s a capital gains tax relief proposal. It would double the current exclusion for eligible older deed holders who sell their homes for a profit. The concept? People who acquired…
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Higher SALT Caps, Lost Credits: How the 2025 Tax Law Affects Deed Holders
On the Fourth of July, 2025, Donald Trump signed the “Largest Tax Cuts in History” into law. California’s governor calls the law a plan for the ultra-rich. And yes, as SmartAsset.com points out, independent analyses show most of the new tax cuts will benefit those who already enjoy high incomes. Many changes begin with the…
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Could Ohio Make Property Taxes Unconstitutional? Should It?
Ohio Attorney General Dave Yost’s office has received a proposal to insert a new Section 14 into Article XII of the Ohio constitution. This proposed amendment seeks to abolish current and future real estate taxes. For many months, Ohio’s Butler County and Hamilton County deed holders have been pressing state lawmakers to expand property tax…
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St. Louis County Deed Holders: Submit Your Property Tax Freeze Application Now
St. Louis County’s senior property tax freeze has begun. Rejoice! The program halts real estate property tax increases for eligible seniors. From now until June 30, 2025, you may submit the online application that covers 2024. You’re eligible for this money-saving initiative if you: Of course, you can only claim your Senior Property Tax Credit…
